Behind The Scenes Of Dell's Decision To Go Private

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Board Likes The Idea

Dell's board of directors heard from Michael Dell in August 2012 and noted three companies had expressed interest in a deal: Silver Lake Partners, Southeastern Asset Management and a company known as "Sponsor A."

J.P. Morgan, hired by the company as a financial consultant, told Dell's board that there was a "low probability of strategic buyer interest" in acquiring Dell because of the company's "large market capitalization, ... significant exposure to the PC market, the recent decline in the company's operating performance, and the absence of any stated third-party interest in acquiring the company over the prior two-year period."

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